Which banks pay the most for PBs?

Mariah in San Francisco, California said: I know this varies upon locations and other factors. But in general which banks offer the highest base salary and attract the most businesses for Personal Bankers?

Base salary wise Chase isn't the highest but overall they have the highest potential. Incentive plan for Chase tops any other bank with potentials in 6 digit income

Mariah in San Francisco, California said: Interest because the manager whom I interviewed with at Chase also claimed that. But everyone I asked in banking all said that it's impossible for a PB to make even close to 6 figures nowadays.

So I like to get validation from PBs currently at Chase of whether this is true.

I'm currently a PB at Chase and making a decent income. The commission at Chase is uncapped so there is a lot potential. How much you can make all depends on how hard you're willing to work. Top bankers make very good income.

Can you tell me the range that PBs at your branch earn, and whether they require a lot of cold calling/hunting to achieve that?

It has slowed down a lot where I am...but in the district most bankers average 1200 to 1500 pvcs a month lately. It used to be higher than that but the incentive plan changed and we are also in a recession and not in a wealthy area. (mgmt doesn't want "excuses" though)

If you get to 1500 that is $1875 in bonus per month, on top of a salary that can vary by region but is probably in the mid 30's to the mid 40's. In the northeast the base salaries are high. The top banker in the nation has about 33,000 pvcs so far this year according to a newsletter that goes out. She is making WELL over 6 figures but that is definitely not the norm. I would guess most make between 50 to 60k a year.

We don't do much calling where I am. I imagine it varies by branch, depending on what your manager demands.

"Miriam28" is correct though, there is a lot of bs to put up with.

Z in Flushing, New York said: Base salary wise Chase isn't the highest but overall they have the highest potential. Incentive plan for Chase tops any other bank with potentials in 6 digit income

Downtown Flushing is good. But my region is so slow : (

I am a PB in Chase too, and in this economy if you make 60k at the most feel lucky...nowhere close to 6 figures, trust me.

Does anyone know, out of curiosity, how much a licensed Pb at Wells fargo make? I think their base is higher but I am not sure how much more they make in bonusses.also, any info on being a business banker with WF? salaries, incenstives...? is it like in Chase? because here BB make good money off Pbs, which sucks...i am tired of making my BB $, really...

Miriam28 in Phoenix, Arizona said: Does anyone know, out of curiosity, how much a licensed Pb at Wells fargo make? I think their base is higher but I am not sure how much more they make in bonusses.also, any info on being a business banker with WF? salaries, incenstives...? is it like in Chase? because here BB make good money off Pbs, which sucks...i am tired of making my BB $, really...

THE BASE IS 40K BUT THE BONUS ARE REALLY, REALLY BAD THE MAXIMON THAT YOU CAN GET IS $1500 PER MONTH AND THAT IS ONLY THE TOP 3...

Miriam28 in Phoenix, Arizona said: I have been with Chase for 4 years as PB. It´s a crappy company to work for. I am seriously considering a change. I am one of their top bankers in Scottsdale,AZ and believe me, there is no way you can make anythingh close to 6 figures,,, be happy if you make $55k. and put up with all the bs from managers , customers and other jelous colleagues. Do yourself a favour and look for anotehr bank.

best advice that can be given!!! im also gonna have to agree as a former top banker in the nyc region. get your experience and post out. and yes be happy if u make 60. i made 70 only because i was busting my a55 and probably doing things i shouldnt be. extremely stressful and not worth the frustration

JaV in Harrison, New Jersey said: best advice that can be given!!! im also gonna have to agree as a former top banker in the nyc region. get your experience and post out. and yes be happy if u make 60. i made 70 only because i was busting my a55 and probably doing things i shouldnt be. extremely stressful and not worth the frustration

JaV in Harrison: What would you recommend as a good career path to go down once you have all the experience, knowledge, and achievements from the banker roll? Assuming you are looking for higher income.

How much does a personal banker at Wells Fargo earn in the Philadelphia, PA region? What is the starting base salary range and the quaterly incentive bonus range?

FROM PERSONAL EXPERIENCE, PERSONAL BANKERS CAN MAKE AS MUCH AS WHAT THEY DESIRED. YOU CAN TAKE SOME TIME OFF TO GO LOOK FOR BUSINESS OWNERS WHO NEED ACCOUNTS OPEN. YOU MIGHT BE SURPRISED BUT ONE COUPLE CAN GENERATE YOU 4 ACCOUNTS. JUST THINK ABOUT IT AND SEE THAT IM RIGHT.

I'm currently at Wells Fargo in Texas, making about 31,000 salary. We get our incentives
every 3 months. Which I've heard aren't very high.

I believe Chase pays better BUT. Wells fargo is a better company to work for in a relaxed environment. Its not as pushy and stressful as Chase.

Hope this helps.

ELPARAISOBAKERY in San Bernardino, California said: FROM PERSONAL EXPERIENCE, PERSONAL BANKERS CAN MAKE AS MUCH AS WHAT THEY DESIRED. YOU CAN TAKE SOME TIME OFF TO GO LOOK FOR BUSINESS OWNERS WHO NEED ACCOUNTS OPEN. YOU MIGHT BE SURPRISED BUT ONE COUPLE CAN GENERATE YOU 4 ACCOUNTS. JUST THINK ABOUT IT AND SEE THAT IM RIGHT.

On the left most side of you keyboard, you'll find a button--generally labeled CapsLK or Caps Lock--you should use it; it is helpful :)

Do not waste your time with Wells Fargo. Those people who run that place just incompetent morons. I have over 15 years experience in the banking industry with an excellent track records and references, but did not get the job. Seriously, I am not bitter about it, the economy is tough and there is a lot of competition out there. Cannot figure that one out.

Last month, I completed 3 interviews: phone interview, group interview and then an interview with the regional manager. The following week, the local recruiter called me to advise me that they went with someone else. OK, understood.

The next week, I get a call from a recruiter to set-up a phone interview. Huh, I was totally confused. I advised the recruiter that I just went through the whole interview process a couple of weeks ago. She just did the typical- Ugh! Duh! Hmm! She looked in the computer and said she sees I did and would check on it and call me back. She never got back with me.

All I can say is those people at Wells Fargo are "Idiots"!!!!!!!!!!!!! No communication or competence at all.

By the way, during the interview process, salary was never even discussed. It is not like they were looking to get whoever would work for the least amount of money, like most banks now. Confused!

I am a former PB in a heavily populated NYC branch. There is some good advice I can give regarding this position which has rang true for some friends of mine who have taken the job in other branches.

BEWARE OF YOUR BRANCH MANAGER!!!

Your success depends partially on work ethic, partially on location, and partially on the management and people skills your BM has. Your sanity, on the other hand(and happiness in the position, for that matter), depend SOLELY on your manager. If they know how to manage people and are good at it, you'll be happy and likely stay in the position long enough to move up to Business Banker or a corporate role, if you wish. If you arent so lucky and get a manager who has no clue, be prepared to hate life very quickly. They will torture you when things are slow to force people to open 2nd, 3rd, 4th checking accounts for no reason. They will act incredulous when you tell them the person you just sat with didnt have all of their monthly bills with them to set up Online Bill Pay nor the 30-45 minutes necessary to sit and wait for you to call each company they pay their bills to and wait for their personal info in order to set this up. When you bring in large investment accounts, you will still be tortured as to why you didnt sell that millionaire a debit rewards card. After 3 years as a life insurance salesman traveling all over the city sometimes to terrible areas for small commissions, i lasted only 3 months in my Chase branch before i had to leave - it was that bad. I was started at 38k base and expected to make about 55k-60k, but keep in mind that was in a decently high volume branch in NYC.

That being said, there IS potential here for someone who is fully licensed, likes working on commission, and is a good salesman. You have to be able to approach people in the lobby and those waiting on line and coerce them to your desk even when all they want to do is deposit a check. Once there, you will peruse all of their accounts and personal info. If you know how to spot an opportunity, you can usually make a few bucks off of anyone. Several friends of mine also left my insurance company for Chase. 1 had a great manager, did really well, and after about 1 year became a business banker where the salary is higher, commission is better, and you are typically the only one (or possibly one of two) in your branch, as opposed to 4-6 personal bankers fighting over the same business. Another friend started out doing real well with a cool manager, but recently had his manager switched and is now clamoring for me to get him a job at my current company. It all depends on the manager!

Another caveat: if you have a heart and dont want to blindly lead people into bad situations, this is not the job for you. We were pushed HARD to get people with little or no cash in their name to open credit cards. I had a hard time doing this knowing how long it takes to recover from credit card debt.

I would have to agree with jayb that it is manager-dependent. The job offers alot of opportunity to move within the company, but it is not a long-term career role. I am all too familiar with the push to set up more BillPay by calling all of the companies or going to all of the websites, the lack of care when I reel in investments, or the push to open up additional accounts during slow times (often when the client hardly has enough money for the accounts they are in).

To the benefit: excellent experience in sales if you can learn how to balance the sales goals, your integrity, and appeasing the manager. Remember, the managers are grilled by their DM and MM to improve the numbers- JPMorgan Chase is a very aggressive company. Most of the time it is not personal and the fact that you did not get an additional credit card app from one customer is quickly forgotten when the next customer comes in and a new opportunity presents itself.

I have found the following useful: create good rapport and a strong bond of trust with your customers, make the recommendations for them that actually make sense, provide excellent customer service, ask for referrals. In the process, you might not have covered all of the products or services, and this may make your interaction with the manager a little more difficult...but it will be better for your long term production...and hence, your relationship with your manager.

Hi Guys,

I am just about to start a new job as a PB for Chase in Torrance, CA. Any hints/tips or advice? I am just waiting for my background/drug test results to go through.

how much does a banker make at chase per hour starting?

yuri in Escondido, California said: how much does a banker make at chase per hour starting?

I recently spoke with a recruiter they offered me a job and said I'd be starting a base of $34k a year +commission, comes out to about $16.50 an hr or so RI told them I'd need $40k a year they said they could, I've got experience though...

C0ldpiece in El Segundo, California said: Hi Guys,

I am just about to start a new job as a PB for Chase in Torrance, CA. Any hints/tips or advice? I am just waiting for my background/drug test results to go through.

are you still at Chase in Torrance? I am currently at Wells Fargo and I am being recruited by Chase mgmt to come work for them. What has your initial experience been like at Chase and is their a real potential to make 6 figures $$. 471

rainbowridge in Cottonwood, Arizona said: are you still at Chase in Torrance? I am currently at Wells Fargo and I am being recruited by Chase mgmt to come work for them. What has your initial experience been like at Chase and is their a real potential to make 6 figures $$. 471

Yes, I am still at chase. I really like it here, I work with a few bankers that used to be at wells, and they tell me that Chase is a much more relaxed environment. The potential is there to make the money, with the incentives, and bonuses and all. It really depends on if you are based in a branch with a lot of activity or a slow branch.

C0ldpiece in El Segundo, California said: Hi Guys,

I am just about to start a new job as a PB for Chase in Torrance, CA. Any hints/tips or advice? I am just waiting for my background/drug test results to go through.

I am flying to L.A. & staying in Torrance with a friend this coming week and have plans on visiting various Chase branches to see the activity and get a feel for the environment. Do have any idea which branches to visit first? Now that you have been at Chase for a few months do you really see potential earning that exceed 80K > does anyone at your branch earn or exceed this amount? Thanks for reply in advance.

Miriam28 in Phoenix, Arizona said: Does anyone know, out of curiosity, how much a licensed Pb at Wells fargo make? I think their base is higher but I am not sure how much more they make in bonusses.also, any info on being a business banker with WF? salaries, incenstives...? is it like in Chase? because here BB make good money off Pbs, which sucks...i am tired of making my BB $, really...

WF license baker makes 17hr-19 hr incentive sucks as a license baker but I still hit personal baker goals.

Z in Flushing, New York said: I'm currently a PB at Chase and making a decent income. The commission at Chase is uncapped so there is a lot potential. How much you can make all depends on how hard you're willing to work. Top bankers make very good income.

The commission at Chase IS capped. There are limits on how many PVCs you can earn per person, per household, per mortgage loan, per investment, etc. Everything has a limit that they have come up with even if you did infact sell more. This means it IS capped.

How do you guys feel about Citi bank? I'm currently a PB at Chase. I got an offer from Citi to work on the Upper East side, but not sure if its a smart move to make. I made 60k last year working for Chase, Citi offered me 47k base, but I'm hearing comission is almost non exsistent at Citi

Seems like a lot of people think Chase is best to work for. What about Bank OF America, no one mentioned them. Are they good too? Or is Chase still better?

I work for Wells fargo in Iowa as a PB for 2 years now and make 19 per hour, I avg 5 hrs of OT per week, and every 3 months make about a $1800 bonus. That puts me right about 50-54K per year. I am in a very slow market but still avg at 150% of my goals which for me is not hard to do. I know some bankers who do much better than me based on the fact that they are in an area such as San Fransisco ect. I think that as long as you have a decent store manager they wont bother you as long as you are exceeding your numbers. I would say overall I really enjoy my Job; and hey you cant beat 5 weeks paid vaca!

aH0428 in San Francisco, California said: I work for Wells fargo in Iowa as a PB for 2 years now and make 19 per hour, I avg 5 hrs of OT per week, and every 3 months make about a $1800 bonus. That puts me right about 50-54K per year. I am in a very slow market but still avg at 150% of my goals which for me is not hard to do. I know some bankers who do much better than me based on the fact that they are in an area such as San Fransisco ect. I think that as long as you have a decent store manager they wont bother you as long as you are exceeding your numbers. I would say overall I really enjoy my Job; and hey you cant beat 5 weeks paid vaca!

Really $1800 bonus come on you are mgmt smoking these guys

come on you're smokin these guys

I currently work for one of the 2 mentioned as a pb. for what its worth , i say stay away from both companies. In this day and age all of the Major Retial Banks are struggling to reach sales goals. The banks are struggling to be as profitable as they used to be, as much as needed to pay the big wigs what they are used to getting.

the bottom feeder bankers will be the ones to pay for this. unessecary stress, very little bonus, unreachable sales goals. ... STAY AWAY. ... if you really want to be in the banking industry, try a smaller bank, you may have better luck.

I must agree with a couple other commentors about your lively hood depending mainly on who your manager is.

Good luck.

UNKNOW in Jacksonville, Florida said: THE BASE IS 40K BUT THE BONUS ARE REALLY, REALLY BAD THE MAXIMON THAT YOU CAN GET IS $1500 PER MONTH AND THAT IS ONLY THE TOP 3...

HAHAHAHA! You have no idea what u are talking about!! I love when people dont know anything and leave comments. Do some research before you open your mouth!! hahahahaha!

i am a licensed banker for chase and i pull in about 60 65k annually. sales fluctuate month to month. u get paid many different ways but bring in new money and you will get the most commission. my least commission and salary ck was 1900 at the end of the month and my most was over 4g's. other banker friends have made over 100k, thats attainable in the nyc area. some exceptional bankers over 150k. get promoted to private banker or financial advisor or even management and average take home is 70 to above 100k easy.

Mariah in San Francisco, California said: Interest because the manager whom I interviewed with at Chase also claimed that. But everyone I asked in banking all said that it's impossible for a PB to make even close to 6 figures nowadays.

So I like to get validation from PBs currently at Chase of whether this is true.

Impossible

I worked for Chase as a PB for a couple years before becoming a loan officer. Now this year there are two different banker roles: Personal Banker and Relationship Banker. Both have equal base salaries, which are low compared to most other banks, 28-32k with the exception of NYC being just a LITTLE bit higher. (32k is almost unheard of now these days for new hires) As a PB the potential for incentive is very limited: $600-800 per month, at manager discretion and any products you sell pay you very little. As a Licensed Relationship Banker (RB) there is way more potential for a higher incentive, but to be honest, no matter how good you are in sales, being able to succeed in getting a high incentive is really dependent on what part of town you are working in. Bankers in affluent parts of NYC are the ones who make the most incentive, and like others have said here some do make six figures. However,good luck with getting anywhere near that in any other part of the country. If you're working in a very high traffic branch in an affluent area of town you can make about 50k a year, maybe a little more if you're VERY good and are in a VERY good branch. I know bankers that have made less than $2k in incentive the whole year, because of the location they are in. Making your incentive does take a lot of hard work.

Now in terms of your sanity and satisfaction with the job it all depends in one thing: your branch manager, like jayb mentioned. If you have a good manager that really knows how to run the branch, multi-task, has a positive attitude and cares about his employees then I'm sure you'll be happy for a couple of years. But if you have a manager with very poor skills and who doesn't listen to employees or does things fairly, then you will be miserable and good luck with transferring to another branch, that is something your district manager would have to approve.

Overall, if you can make the sacrifice of sticking around as an RB/PB for a couple of years and do a decent job, there is opportunity in other areas of the company. And some advice if you would like to grow into a higher paying sales position, try to find your niche as a banker when it comes to products, find out what you like to discuss and sell to clients, for example: Loans or Savings/Retirement/Investments or Business Products. Try to perform well in that area that you like, and when you inteview for a position as a Business Banker, Loan Officer, or Financial Advisor having that solid record will help you a lot get the job.